STOCKHOLM (BRAIN) — Thule Group net sales in the third quarter increased 1.4% year-over-year, but its CEO said the North American market continues to lag "with cautious consumers and retailers."
Net sales for the quarter ending in September were SEK 2,344 million ($221 million) compared with SEK 2,311 at the same time last year. Region Americas sales decreased 3.3% in the quarter, while Europe and the rest of the world net sales increased 3.2%.
"The North American market remains more challenging than its European counterpart," said CEO Mattias Ankarberg.
Region America net sales were SEK 601 million, and Europe's were SEK 1,743 million.
Year-over-year net income went up 14.8%, from SEK 262 million to SEK 300 million. Earnings per share increased 15%, from SEK 2.47 to SEK 2.84.
Thule's corporate headquarters is in Stockholm. Its stock is traded on OTCMKTS under the THULE symbol. Thule stock quote is at Marketwatch.com.
